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Message: South American Gold and Copper Company Limited Reports Best Quarter


Ever for its First Fiscal Quarter Ended December 31, 2010


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/NOT TO BE DISTRIBUTED OR DISSEMINATED IN THE UNITED STATES/


TORONTO, Feb. 7 /CNW/ - South American Gold and Copper Company (the "Company) (TSX-SAG) reported
that it has reached an all time high in results for its first fiscal
quarter ended December 31, 2010 compared with previous quarters in the
Company's history.


Revenues for the Company's first fiscal quarter ended December 31, 2010
were US $6,163,000 of which gold sales were US $5,482,000 and copper
and silver sales were US $681,000. This compares with the year ago
quarter ended December 31, 2009 with revenues of US $2,163,000 of which
gold sales were US $1,915,000 and copper and silver sales were US
$248,000.


Net earnings of the first quarter ended December 31, 2010 were US
$1,678,000 compared to a loss of US $1,020,000 for the comparable
quarter a year ago.


The Company reported a cash position of US $3,009,000 for the period
ended December 31, 2010 compared to US $1,470,000 for the comparable
period a year ago. The net current ratio was 1:05 to 1:00 in the
quarter ended December 31, 2010 compared to .80 to 1:00 a year ago.


Gold ounces sold during the quarter ended December 31, 2010 were 4,027
ounces compared to 1,688 ounces a year ago.


The cash cost per ounce of gold net of by-product credits was US $592
for the quarter ended December 31, 2010 compared to $1,194 for the
comparable quarter a year ago.


The Company's first fiscal quarter results ended December 31, 2010 are
available on the Company's web site:
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.






For further information:

Registered Office: Santiago Office:
79 WELLINGTON STREET WEST, SUITE 2300 LA CONCEPCION 266, Of. 704
TORONTO, ONTARIO M5K 1H1 PROVIDENCIA, SANTIAGO, CHILE
CANADA Telephone: 56-2-264-2295

Toronto Office: For further information, contact:
67 Yonge Street, Of. 1201 Stephen W. Houghton, CEO
Toronto, Ontario M5J 1J8 David R. S. Thomson, EVP
CANADA E-Mail:
[email protected]
Telephone: 56-2-264-2295
Website: http://www.sagc.com/">www.sagc.com

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